v3.26.1
Redeemable Noncontrolling Interests in Subsidiaries
 6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests in Subsidiaries Equity
In October 2024, the board of directors authorized a share repurchase program with no stated expiration date that allowed the repurchase of up to 5.0 million shares of Class B common stock. This program was fulfilled in December 2025. In July 2025, the board of directors authorized an additional share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock. No other program existed as of June 30, 2026. The program authorizes executive management to determine the timing and the amount of shares for each purchase. The repurchased stock is to be held in treasury for employee share-based compensation plans, potential acquisitions and other corporate activities, unless the board of directors subsequently determines to retire the repurchased stock and restore the shares to authorized but unissued status (rather than holding the shares in treasury). During the six months ended June 30, 2026, Federated Hermes repurchased approximately 2.3 million shares of its Class B common stock for $124.9 million, nearly all of which were repurchased in the open market. At June 30, 2026, approximately 2.3 million shares remained available to be repurchased under this share repurchase program.
The following table presents the activity for the Class B common stock and Treasury stock for the three and six months ended June 30, 2026 and 2025. Class A shares have been excluded as there was no activity during these same periods.
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Class B Shares
Beginning Balance75,519,013 79,096,157 76,386,966 81,759,679 
Stock Award Activity 103,636 9,700 426,983 403,720 
Purchase of Treasury Stock(1,119,805)(1,547,182)(2,311,105)(4,604,724)
Business Acquisition406,150 0 406,150 0 
Ending Balance74,908,994 77,558,675 74,908,994 77,558,675 
Treasury Shares
Beginning Balance23,986,443 20,409,299 23,118,490 17,745,777 
Stock Award Activity (103,636)(9,700)(426,983)(403,720)
Purchase of Treasury Stock1,119,805 1,547,182 2,311,105 4,604,724 
Business Acquisition(406,150)0 (406,150)0 
Ending Balance24,596,462 21,946,781 24,596,462 21,946,781 
Redeemable Noncontrolling Interests in Subsidiaries
The following table presents the changes in Redeemable Noncontrolling Interests in Subsidiaries:
(in thousands)Consolidated Investment CompaniesOther EntitiesTotal
Balance at December 31, 2025$36,633 $29,896 $66,529 
Net Income (Loss)345 (777)(432)
Other Comprehensive Income (Loss), net of tax(417)(433)(850)
Subscriptions—Redeemable Noncontrolling Interest Holders1,410 51 1,461 
Consolidation/(Deconsolidation)0 (132)(132)
Distributions to Noncontrolling Interests in Subsidiaries(7,522)(534)(8,056)
Balance at March 31, 2026$30,449 $28,071 $58,520 
Net Income (Loss)1,926 570 2,496 
Other Comprehensive Income (Loss), net of tax(652)51 (601)
Subscriptions—Redeemable Noncontrolling Interest Holders21,149 221 21,370 
Distributions to Noncontrolling Interests in Subsidiaries(5,776)(49)(5,825)
Business Acquisition0 68,204 68,204 
Balance at June 30, 2026$47,096 $97,068 $144,164 
(in thousands)Consolidated Investment CompaniesOther EntitiesTotal
Balance at December 31, 2024$45,085 $10,429 $55,514 
Net Income (Loss)2,690 52 2,742 
Other Comprehensive Income (Loss), net of tax903 163 1,066 
Subscriptions—Redeemable Noncontrolling Interest Holders16,107 128 16,235 
Distributions to Noncontrolling Interests in Subsidiaries(7,023)(1,344)(8,367)
Balance at March 31, 2025$57,762 $9,428 $67,190 
Net Income (Loss)6,785 (1,094)5,691 
Other Comprehensive Income (Loss), net of tax1,854 236 2,090 
Subscriptions—Redeemable Noncontrolling Interest Holders73,940 265 74,205 
Distributions to Noncontrolling Interests in Subsidiaries(12,629)(907)(13,536)
Business Acquisition0 27,353 27,353 
Balance at June 30, 2025$127,712 $35,281 $162,993